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Why is Skechers rising so much in price?

Why is Skechers rising so much in price?
Asked by
Craig Nicholas categorie-icon time-icon2 months ago
1 Answer Answer Question

Ilija Rankovic
Answered time-icon2 months ago

Shares of Skechers USA have gained 23.8% in the past six months. This increase in share price has outperformed the industry by more than double. The company is currently focused on many things, including its new line of products, corporate upgrades and store remodelling projects, cost-containment efforts, inventory management, and global distribution platform. The company's US-based e-commerce business is also doing quite well.

Even though the SKX stock did not react well (price-wise) to the third successive quarterly sales miss, it has recovered in price and is on its way up. Skechers is currently ranked with a Zacks Rank #3 (Hold), as analysts are indifferent as to whether the rise can continue or not.

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